ASU 2016-02, Leases (Topic 842) has finally made official that financial accounting and reporting standards relevant to leases has been completely revisited and modified, both within the U.S. and internationally. This course will discuss the impact of these changing standards on both lessors and lessees. These changes will be effective for public companies for periods beginning after December 15, 2018, with all other entities having an extra year for implementation.

Practicing CPAs and accounting professionals in business and industry that prepare and review or audit financial statements

Prerequisite

Basic understanding of U.S. generally accepted accounting principles

Fees:

Early Bird

Standard

Member

N/A

$89

Non-Member:

N/A

$109

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description:
ASU 2016-02, Leases (Topic 842) has finally made official that financial accounting and reporting standards relevant to leases has been completely revisited and modified, both within the U.S. and internationally. The new standard eliminates one of the largest forms of off-balance sheet accounting, but requires most leases to be brought onto the balance sheet (whether classified as a financing or operating lease). This course will discuss the impact of these changing standards on both lessors and lessees. These changes will be effective for public companies for periods beginning after December 15, 2018, with all other entities having an extra year for implementation.

Major Topics:

Outcomes of the recent FASB and IASB Joint Project related to Leases

Differentiating between accounting and reporting requirements for operating and finance leases